Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity for Jordan Valley Water Conservancy District under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the District it is not intended to and does not present the financial position, changes in net assets, or cash flows of the District.
The accompanying Schedule of Expenditures of Federal Awards is a summary of activities related to the District’s expenditure of federal awards. The schedule has been prepared on the same basis of accounting as the financial statements. Most of the awards are reimbursement based. Therefore, as expenditures of federal funds are made, revenue is recognized. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. The District does not use the 10% de minimis cost rate as allowed under Uniform Guidance